The Computer Vision Global Market Report 2023, provides comprehensive information on the computer vision market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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In accordance with The Business Research Company's Computer Vision Global Market Report for the year 2023, the market is poised for a substantial transformation, anticipating an impressive growth trajectory. The market size is projected to ascend from $13.45 billion in 2022 to a robust $14.95 billion in 2023, manifesting a remarkable compound annual growth rate (CAGR) of 11.2%. However, the global economic landscape is currently grappling with formidable challenges stemming from the Russia-Ukraine conflict, which has significantly thwarted the prospects of a swift recovery from the COVID-19 pandemic, particularly in the short term.

The protracted war between these two nations has engendered widespread economic sanctions imposed on multiple countries, precipitated a sharp upswing in commodity prices, and wrought havoc upon supply chains, culminating in widespread inflationary pressures across various sectors and services, thereby exerting a profound impact on global markets at large. Nevertheless, despite these adversities, the computer vision market is poised to maintain its growth trajectory, forecasting a market size of $23.06 billion by the year 2027, underpinned by a commendable CAGR of 11.4%.

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The computer vision market is currently experiencing a significant surge in technological advancements, a prevailing trend that has garnered considerable attention. Notably, major players within this dynamic market are resolutely committed to the pursuit of innovation, as they strive to fortify their competitive standing. In an illustrative case from January 2022, Amazon Web Services, Inc., a prominent United States-based cloud computing platform provider, introduced a groundbreaking solution known as AWS Panorama in the Asia-Pacific region. AWS Panorama represents an innovative software development kit (SDK) designed to enhance operational efficiency through the application of computer vision (CV) technologies.

This pioneering solution comprises an array of software development tools and machine learning (ML) devices tailored to facilitate the integration of CV capabilities with on-premises internet protocol (IP) cameras. The implications of AWS Panorama are far-reaching, as it equips businesses with the capability to automate various visual inspection tasks. These tasks encompass assessing manufacturing quality, identifying bottlenecks in industrial processes, and ensuring worker safety within their facilities. The introduction of AWS Panorama exemplifies the significant impact of technological advancement in the realm of computer vision and underscores its transformative potential across diverse industrial sectors.

The computer vision market is segmented:

1) By Product: Smart Camera-Based Computer Vision Systems, PC-Based Computer Vision Systems

2) By Component: Hardware, Software

3) By Offering: Deep Learning, Traditional Computer Vision

4) By Application: Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification, Predictive Maintenance, 3D Visualization and Interactive 3D Modelling

5) By End-User Industry: Life Science, Manufacturing, Defense and Security, Automotive, Other End User Industries

Asia-Pacific was the largest region in the computer vision market in 2022.

The table of contents in TBRC’s computer vision market report includes:

Executive Summary
Computer Vision Market Characteristics
Computer Vision Market Trends And Strategies
Computer Vision Market - Macro Economic Scenario
Computer Vision Market Size And Growth
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Africa Computer Vision Market
Computer Vision Market Competitive Landscape And Company Profiles
Key Mergers And Acquisitions In The Computer Vision Market
Computer Vision Market Future Outlook and Potential Analysis
Appendix
Top 5 Major Key Players Are:

Cognex Corporation
Intel Corporation
Keyence Corporation
National Instruments Corporation
Omron Corporation
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.

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